Eisenberg and Mango Markets reached a deal for Eisenberg to refund around $67 million, but the $110 million fraud is now being handled as theft. Avi Eisenberg, a Mango Markets crypto fraudster.
Avraham “Avi” Eisenberg, the assailant at Mango Markets, has been accused by US authorities from the Southern District of New York with commodities fraud and market manipulation. On Monday, police detained him in Puerto Rico.
Eisenberg was accused of intentionally and consciously trying to manipulate and deceive markets, which allowed him to extract millions of dollars in various cryptocurrencies without having any intention of returning the stolen goods, according to the complaint, which was made public on Tuesday.
Eisenberg stole $110 million from the Mango Markets exchange during the October 2022 attack. The US Federal Prosecutor is now taking issue with this, stating that Eisenberg manipulated the price of a commodity by taking both sides of the transaction.
Avraham “Avi” Eisenberg, the assailant at Mango Markets, has been accused by US authorities from the Southern District of New York with commodities fraud and market manipulation. On Monday, police detained him in Puerto Rico.
Avi Eisenberg, a Mango Markets crypto fraudster
Eisenberg was accused of intentionally and consciously trying to manipulate and deceive markets, which allowed him to extract millions of dollars in various cryptocurrencies without having any intention of returning the stolen goods, according to the complaint, which was made public on Tuesday.
Eisenberg stole $110 million from the Mango Markets exchange during the October 2022 attack. The US Federal Prosecutor is now taking issue with this, stating that Eisenberg manipulated the price of a commodity by taking both sides of the transaction.
Eisenberg employed oracle price manipulation strategies to remove an estimated $53.7 million in USD Coin (USDC), $3.2 million in tether (USDT), and SOL from Mango Markets, a cryptocurrency trading company located in Solana.
The attack caused Mango’s native token, MNGO, to drop in value by 50% that day, to around $0.02, 95% below its all-time high, which was $0.50, reached in September 2021.
Later, Mango governance approved a plan to transfer $42 million USDC to pay for reimbursements for its consumers.
Eisenberg makes use of several exploits in addition to Mango.
Additionally, the hacker left the largest DeFi lender, Aave, with a $1.7 million bad debt.
Eisenberg had acquired around 92 million CRV, Curve Finance’s native token, at that time.